Using an electric or stand mixer fitted with paddle, beat powdered sugar, granulated sugar, egg,vanilla extract, almond extract and butter on medium-high speed until fluffy, about 2 minutes.

Add flour and mix until just combined.

Divide dough into 4 pieces, wrap in plastic wrap, and refrigerate for at least 1 hour.

Preheat oven to 350F degrees. Line two large baking sheets with parchment paper or silicone baking mats. Set aside.

In a medium sized bowl, whisk together powdered sugar, shortening, heavy whipping cream and vanilla extract until smooth. Set aside.

Roll out dough to about 1/8 inch thick.

Using a cookie cutters, cut dough into shapes.

Place cookie shapes onto prepared baking pan. Bake for 8-10 minutes. Let cookies cool on baking sheet for 10 minutes, then transfer to wire rack. Let cookies cool completely before icing and decorating.

In a medium-sized bowl, stir together powdered sugar and milk until smooth. Mix in corn syrup, vanilla extract, and almond extract and stir until smooth and glossy.

Once cookies are cooled, frost cookies and sprinkle with colored sprinkles.